Business Statistics

Types of Degrees Business Statistics Majors Are Getting

The following table lists how many business statistics graduations there were in 2020-2021 for each degree level.

Education Level	Number of Grads
Master’s Degree	2,958
Bachelor’s Degree	612
Graduate Certificate	521
Basic Certificate	101
Associate Degree	83
Undergraduate Certificate	15
Doctor’s Degree	5

What Business Statistics Majors Need to Know

In an O*NET survey, business statistics majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Business Statistics Majors

Business Statistics majors often go into careers in which the following knowledge areas are important:

• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

Skills for Business Statistics Majors

business statistics majors are found most commonly in careers in which the following skills are important:

• Speaking - Talking to others to convey information effectively.
• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Mathematics - Using mathematics to solve problems.

Abilities for Business Statistics Majors

A major in business statistics will prepare for your careers in which the following abilities are important:

• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

What Can You Do With a Business Statistics Major?

Below is a list of occupations associated with business statistics:

Job Title	Job Growth Rate	Median Salary
Statisticians	33.9%	$87,780

Who Is Getting a Bachelor’s Degree in Business Statistics?

This major tends to be male dominated. About 62% of recent graduates are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of business statistics majors is as follows:

Race/Ethnicity	Number of Grads
Asian	65
Black or African American	29
Hispanic or Latino	41
White	368
International Students	83
Other Races/Ethnicities	26

Geographic Diversity

Business Statistics appeals to people across the globe. About 13.6% of those with this major are international students.

How Much Do Business Statistics Majors Make?

Salaries According to BLS

Business Statistics majors often go into careers where salaries can range from $63,240 to $92,600 (25th to 75th percentile). This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Amount of Education Required for Careers Related to Business Statistics

Some degrees associated with business statistics may require an advanced degree, while others may not even require a bachelor’s in the field. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

Find out what the typical degree level is for business statistics careers below.

Education Level	Percentage of Workers
Bachelor’s Degree	16.4%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	1.2%
Master’s Degree	39.4%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	0.9%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	0.2%
Doctoral Degree	38.7%
Post-Doctoral Training	4.5%

Online Business Statistics Programs

In 2020-2021, 107 schools offered a business statistics program of some type. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	5	0
Certificate (2-4 Years)	0	0
Associate’s Degree	2	0
Bachelor’s Degree	26	8
Post-Baccalaureate	0	0
Master’s Degree	67	15
Post-Master’s	6	0
Doctor’s Degree (Research)	2	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Business Statistics Worth It?

The median salary for a business statistics grad is $87,140 per year. This is based on the weighted average of the most common careers associated with the major.

This is 118% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $944,800 after 20 years!

Majors Related to Business Statistics

You may also be interested in one of the following majors related to business statistics.

Major	Number of Grads
Management Science	23,510
Other Management Sciences and Quantitative Methods	13,371
Actuarial Science	2,206

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
• Image Credit: By в±® under License

More about our data sources and methodologies.